Moody National Bank Trust Division lessened its stake in Novartis AG (NYSE:NVS – Get Rating) by 49.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,390 shares of the company’s stock after selling 4,353 shares during the quarter. Moody National Bank Trust Division’s holdings in Novartis were worth $371,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in NVS. Fulton Bank N.A. raised its position in shares of Novartis by 17.4% in the 2nd quarter. Fulton Bank N.A. now owns 11,008 shares of the company’s stock valued at $931,000 after acquiring an additional 1,633 shares during the period. Capital Investment Advisors LLC raised its holdings in Novartis by 4.7% in the second quarter. Capital Investment Advisors LLC now owns 6,062 shares of the company’s stock worth $512,000 after purchasing an additional 274 shares during the period. Confluence Investment Management LLC grew its holdings in shares of Novartis by 2.2% in the 2nd quarter. Confluence Investment Management LLC now owns 186,547 shares of the company’s stock valued at $15,769,000 after buying an additional 3,945 shares during the period. M&R Capital Management Inc. increased its position in shares of Novartis by 636.4% in the 2nd quarter. M&R Capital Management Inc. now owns 4,050 shares of the company’s stock valued at $342,000 after buying an additional 3,500 shares in the last quarter. Finally, Offit Capital Advisors LLC raised its stake in Novartis by 15.0% during the 1st quarter. Offit Capital Advisors LLC now owns 3,957 shares of the company’s stock worth $347,000 after buying an additional 517 shares during the period. Institutional investors and hedge funds own 9.14% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price target on Novartis from CHF 80 to CHF 75 in a research report on Wednesday, June 29th. Kepler Capital Markets upgraded shares of Novartis from a “hold” rating to a “buy” rating and set a CHF 90 price target for the company in a report on Wednesday, September 7th. JPMorgan Chase & Co. raised their price objective on shares of Novartis from CHF 80 to CHF 81 and gave the stock an “underweight” rating in a report on Wednesday, July 20th. Credit Suisse Group lowered shares of Novartis from a “neutral” rating to an “underperform” rating in a research note on Thursday, September 15th. Finally, Berenberg Bank downgraded Novartis from a “buy” rating to a “hold” rating in a research note on Wednesday, September 14th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $87.00.
Novartis Trading Up 0.1 %
Novartis (NYSE:NVS – Get Rating) last posted its quarterly earnings results on Monday, July 18th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.04. Novartis had a net margin of 44.31% and a return on equity of 21.88%. The firm had revenue of $12.78 billion for the quarter, compared to analyst estimates of $12.78 billion. During the same period in the prior year, the firm posted $1.64 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts predict that Novartis AG will post 6.06 earnings per share for the current fiscal year.
Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. The company operates through two segments, Innovative Medicines and Sandoz. The Innovative Medicines segment offers prescription medicines for patients and healthcare providers. It also provides ophthalmology, neuroscience, immunology, hepatology, dermatology, respiratory, cardiovascular, renal, and metabolism medicine products.
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